Tenet Energy Inc., a climate-focused financial technology platform dedicated to advancing America’s sustainable energy transition, has teamed up with Service Credit Union, a prominent member-owned financial institution. This collaboration aims to make electric vehicle (EV) ownership more affordable and accessible, yielding promising results to date.
The partnership allows Service Credit Union to leverage Tenet’s EV purchase and financing platform, which provides a streamlined, digital origination experience for EV loans. Service CU benefits from receiving high-intent, vetted EV auto loans through Tenet’s specialized acquisition channels, which facilitates new member growth and supports efficient loan processing.
Mark O’Dell, Chief Retail Officer at Service Credit Union, praised the collaboration: “Tenet has been an excellent partner in the EV space, significantly contributing to our new member growth. Our electric vehicle loan portfolio has achieved outstanding performance.”
Since joining forces with Tenet, Service Credit Union has welcomed over 700 new members and avoided approximately 160 tons of CO2 emissions each month. This achievement translates to about $34.8 million in loan volume, primarily granted to high-credit-score consumers with substantial homeownership. These results underscore the success and impact of the partnership, as well as its potential for future growth with strong risk profiles and low delinquency rates.
Bo Kane, Head of Capital Markets at Tenet, expressed enthusiasm about the partnership: “We are excited about our collaboration with Service Credit Union, which enhances EV ownership accessibility. By integrating digital channels, we are supporting our customers’ environmentally responsible choices and advancing our mission to promote sustainable energy.”
Both Tenet Energy and Service Credit Union are committed to ongoing growth and sustainability, ensuring that members can take advantage of cutting-edge clean energy technology. Their joint efforts are designed to make EV ownership more affordable, contribute positively to the environment, and improve the financial well-being of their members.
